Browse the Topics, Table of Contents, and Index
Follow us:
Twitter Facebook

8.2 Estimating Likelihood

8.2 Estimating Likelihood
<
>
  • Math Help

    Here are some of the terms used in theoretical probability.

    Experiment  An activity whose result is uncertain

    Outcome  The possible results of an experiment

    Event  A collection of one or more outcomes

    Favorable outcome The outcomes of a specific event

    Here is how these terms apply to Example 1(a).

    Experiment  The Daily Number is drawn.

    Outcome  All three-digit numbers, 000 to 999; 1000 possible numbers

    Event  You pick one 3-digit number.

    Favorable outcome  The number you pick is the Daily Number.

  • Consumer Suggestion

    Winning the lottery is often a life changing event. Check out this article from oddee.com to read about 7 interesting lottery winners' stories, including the story of a man who escaped 7 near death experiences in his lifetime and won $1 million dollars in the lottery.

  • Checkpoint Solution

    You have a chance to win each time you play. You play 10 times each day for 100 days. So, you expect to win

    You spend

    If you win once, you will win $500, making your net earnings

  • Comments (1)

    These comments are not screened before publication. Constructive debate about the information on this page is welcome, but personal attacks are not. Please do not post comments that are commercial in nature or that violate copyright. Comments that we regard as obscene, defamatory, or intended to incite violence will be removed. If you find a comment offensive, you may flag it.
    When posting a comment, you agree to our Terms of Use.

                _____    _    _      ___     __   _   
        ___    |  ___|| | || | ||   / _ \\  | || | || 
       /   ||  | ||__   | || | ||  | / \ || | '--' || 
      | [] ||  | ||__   | \\_/ ||  | \_/ || | .--. || 
       \__ ||  |_____||  \____//    \___//  |_|| |_|| 
        -|_||  `-----`    `---`     `---`   `-`  `-`  
         `-`                                          
    
    Showing 1 comments
    Subscribe by RSS
    system user
    Guest   7 years ago |
    In the caption to the photograph, notice that state lotteries return only $32 billion on receipts of $52 billion. This is an average return of about 60%, which is far less than the return at a typical casino.
    0
©Larson Texts, Inc. All Rights Reserved.